Together, in 1979, they created the small independent film-distribution company Miramax, a portmanteau of their parent's names.

"Miramax virtually created the art house boom in the 1990s by turning offbeat and inexpensive movies like 'Pulp Fiction' and 'Shakespeare in Love' into mainstream hits," The New York Times said in 2010.

Miramax began growing its successful business in the 1980s.

The 1988 release of "The Thin Blue Line" raised its public recognition. The documentary focused on a man named Randall Adams who was a wrongfully convicted inmate sentenced to death. After the movie came out, the resulting coverage helped Adams secure his release.

In 1989, with the release of Steven Soderbergh's "Sex, Lies, and Videotape," Miramax became the most successful independent studio in America.

Movies that came out of Miramax had substantial critical acclaim, including "Clerks," "The English Patient," "Good Will Hunting," and "Shakespeare in Love."

Weinstein also won Tony awards for plays and musicals, including "The Producers."

Weinstein became known as the public face of Miramax. "Harvey tapped into his inner showman and became the voice these small jewels needed to win the recognition they deserved," Bob Weinstein in Vanity Fair.

The Weinsteins have built storied careers in movies. They've received 341 Oscar nominations and won 81 Academy Awards while at Miramax and The Weinstein Company, according to the company's site.

But while Weinstein has accumulated successes, he has been accused of sexually harassing women and promising career advancements in return for sexual favors, The New York Times reported.

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The Times reported on Thursday that Weinstein had reached at least eight settlements with women over the years. Ashley Judd told the paper that while she was shooting "Kiss the Girls" in 1998, Weinstein tried to get her into his hotel for a meeting and force her to watch him shower.

"How do I get out of the room as fast as possible without alienating Harvey Weinstein?" she told The Times of what she recalled thinking.

Weinstein said in a statement to The Times: "I appreciate the way I've behaved with colleagues in the past has caused a lot of pain, and I sincerely apologize for it. Though I'm trying to do better, I know I have a long way to go. That is my commitment. My journey now will be to learn about myself and conquer my demons."